I think that Michael Saylor has taken a wise decision with his Digital Credit Framework and has strengthened his position.
$STRC has bounced upwards with 25% and is already back at $89.
I don't think the markets are currently pricing in the uptick already, and I think that should follow in the coming days/weeks on #Bitcoin.
July is going to be great.
BTCActivation price $60,156.84Direction LongType DirectionalTimeframe Short
Max Favorable +7.6%Max Adverse −0.9%Opportunity 0.74Time 0.95Magnitude 0.74Score 0.78
Quite clearly, this is going to sweep the lows beneath the recent one at the start of July for #Bitcoin.
Doesn't need to be worrying anyone, as it's still the last day of the month (rebalancing purposes are taking place).
The two scenarios for me are:
- Cascade further and we'll hit <$52,000 to take the liquidity there.
- We'll quickly bounce back upwards and continue to be building the bullish divergences on multiple timeframes.
It looks shaky.
BTCActivation price $58,752Direction ShortType DirectionalTimeframe Short
Max Favorable +1.6%Max Adverse −10.1%Opportunity 0.72Time 0.05Magnitude 0.72Score 0.26
Everyone seems to have found a consensus that the markets must continue to fall as Strategy is the next FTX and therefore, it needs to go to zero.
However, do you realize how many people are currently net short on the markets?
Is max pain actually a continued fall?
I don't think that this is the case. Going up in a fast bounce is actually max pain scenario for me on #Bitcoin and many #Altcoins.
Literally nobody expects this to happen.
BTCActivation price $59,713.73Direction LongType DirectionalTimeframe Short
Max Favorable +8.4%Max Adverse −3.2%Opportunity 0.71Time 0.88Magnitude 0.71Score 0.71
$STRC is bouncing back to $76.
$MSTR is bouncing.
#Bitcoin bouncing to $62,000+ would mean another close above the 200-Week MA and a reason to expect no further downside momentum.
Everyone is short anyways, nobody is expecting a bounce, so if it happens, it can go fast.
BTCActivation price $62,583.26Direction LongType ConditionalTrigger Hold Above 62000Timeframe Short
Max Favorable +1.4%Max Adverse −0.4%Opportunity 0.48Time 0.60Magnitude 0.48Score 0.49
Clear test of the lows, all correlated with $STRC on #Bitcoin.
It's bouncing back up, but all depending on how Strategy is going to open tomorrow whether or not this can dump further.
It's one of the scenarios, and I've not sold any of my #Altcoins as many of them have been more resilient than Bitcoin.
Some are up 5-9% vs Bitcoin intraday.
For sure, this is weakness in the markets, but I don't expect Strategy to go down. There's no reason for that to happen.
This can easily bounce back fast to $64,000+ in the coming days if STRC bounces as literally everyone and his mom is currently net short on Bitcoin.
BTCActivation price $59,794Direction LongType ConditionalTrigger Break Above 60000Timeframe Short
Max Favorable +1.9%Max Adverse −2.7%Opportunity 0.52Time 0.64Magnitude 0.52Score 0.45